Sri Lanka stocks close 0.45-pct lower, selling on HNB
May 15, 2019 15:52 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT- Sri Lanka's stocks closed 0.45 percent lower on Wednesday with selling interest on Hatton National Bank and Ceylon Cold Stores.
The All Share Price Index closed 23.71 points down at 5,199.98.
The ASPI had reached a daily high of 5,226.38 in the first half hour of trading, and proceeded to a low of 5,192.67, before recovering slightly in the last hour.
The more liquid stocks on the S&P SL20 Index closed 0.72 percent or 17.75 points down at 2,441.40.
Market turnover was 388.6 million rupees, with 98 stocks falling and 44 gaining.
The market saw some foreign participation, mostly selling, with net foreign outflows of 165.4 million rupees.
Hatton National Bank closed 4.60 rupees lower at 145 rupees a share, and was the largest contributor to the ASPI fall.
HNB reported that its net profits for the March quarter fell 57 percent from a year earlier.
Profits of the entire banking industry for the quarter was seen getting hit, according to interim financials being released this week.
Share prices of most banks fell on Wednesday.
Ceylon Cold Stores was the second most contributor to the ASPI fall, closing 19.20 rupees lower at 560.70 rupees a share.
Index-heavy John Keells Holdings was the most active stock, contibuting 60.2 percent to daily turnover and closing 50 cents higher at 135.50 rupees a share.
Most of the JKH turnover came through two negotiated deals (crossings).